Busan Port, PSA forge strategic partnership

Busan Port Authority (BPA) and PSA International (PSA) signed a memorandum of understanding (MOU) on 7 December 2012 to facilitate cooperation towards a long term and strategic partnership between the two organizations. Through this MOU, BPA and PSA recognize the opportunities to work more closely together to realize mutual benefits in the Port of Busan.

The MOU, signed by Lim Ki Tack, president of BPA, and Tan Chong Meng, group CEO of PSA, in Busan, South Korea, will strengthen the bilateral exchange of information and ideas in port development, management and operations.

Global port group PSA will contribute its experience and expertise from managing and developing port projects in Asia, Europe and the Americas towards this partnership.

Lim Ki Tack described the cooperation between Busan Port and PSA International as bearing special significance and said, “I believe that this MOU will contribute to further economic growth not only between our two ports but also between Korea and Singapore.”

Tan Chong Meng commented, “PSA is honoured to be given this opportunity to strengthen its partnership with the Busan Port Authority and we are pleased to be able to play a part in the growth and development of Busan Port.”

PSA currently operates Pusan Newport International Terminal, a joint venture between PSA and Hanjin Transportation Corporation, in Busan New Port.